Zenith Drugs Limited
Book Built Issue IPO · NSE
- Price band
- ₹75 - ₹79
- Lot size
- 1,600 shares
- Issue amount
- ₹40.68 cr
- Total subscription
- 179.07×
- Opens
- 19 Feb 2024
- Closes
- 22 Feb 2024
- Allotment
- 23 Feb 2024
- Listing
- 27 Feb 2024
Offer at a glance
Issue overview
- Issue size
- 51,48,800 shares
- Face value
- ₹10 Per Equity Share
- Minimum investment
- ₹1,20,000
- Fresh issue
- ₹40.68 cr
- Offer for sale
- ₹0 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,26,400
- Issue type
- Book Built Issue IPO
- Shares before issue
- 1,20,00,000
- Shares after issue
- 1,71,48,800
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 1,600 | ₹1,26,400 |
| HNI | 2 | 3,200 | ₹2,52,800 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 6.79 | 724.41 |
| RETAIL | 11.88 | 1,646.4 |
| NIB | 5.09 | 1,884.46 |
Financial performance
Company financials
In Lakhs · Reported periods may include interim results.
Key performance indicators
| Metric | 2023 | 2022 | 2021 |
|---|---|---|---|
| EPS | 4.29 | 2.62 | 2.52 |
| ROE | 35.13 | 29.83 | 40.73 |
| ROCE | 37.29 | 30.08 | 36.52 |
| RONW | 29.88 | 25.96 | 33.84 |
| PRE IPO(PE) | 18.4 | 0 | 0 |
| POST IPO(PE) | 5.5 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Zenith Drugs Limited, founded in 2000, is a pharmaceutical company that manufactures and trades affordable, high-quality medicines, including various generic products. The company operates under WHO-GMP guidelines and holds an ISO 9001:2015 certification, reflecting its focus on quality. It offers a wide product range such as ORS powder, liquid orals, ointments, liquid externals, and capsules, with over 600 products approved by the Food & Drugs Administration and 325 currently in production. Zenith Drugs is expanding by setting up a new manufacturing facility in Muradpura, Depalpur, Indore, and it also exports its products to multiple regions including Central America, Africa, Southeast Asia, and South Asia. The company provides third-party manufacturing services to well-known pharmaceutical brands like Ajanta Pharma, Bio Medical Laboratories, and Zest Pharma, and as of March 31, 2023, it employs 89 people, including both payroll and contract staff.
Strengths
- Experienced Leadership: The company is guided by seasoned promoters and a skilled management team, ensuring strong leadership and strategic growth.
- Cost Efficiency: A focus on cost-effective operations helps maximize resource use, boosting profitability and competitiveness.
- Innovation & Development: Strong formulation and development capabilities allow the company to innovate and adapt to market trends, setting it apart from competitors.
- Regulatory Compliance: Strict adherence to regulations ensures smooth operations, reduces risks, and strengthens the company’s reputation.
- Global Presence: A broad international market reach helps diversify revenue streams and reduces reliance on any single region.
Risk factors
- Restrictive Financing Conditions: The company must get lender approval for financial decisions like borrowing or restructuring, which may limit flexibility in operations.
- Raw Material & Supplier Dependency: Relying on key suppliers without long-term contracts poses a risk—any shortages or price hikes could impact production and profitability.
- Manufacturing & Quality Risks: Any issues in production or quality control could disrupt operations, harm the company’s reputation, and lead to potential legal challenges.
- Rising Competition: Failure to keep up with increasing competition could result in lower market share and reduced profitability.
- Customer Payment Delays: Late or missed payments from customers could strain cash flow, affecting daily operations and financial stability.
Promoters
Mr. Sandeep Bhardwaj
Mr. Bhupesh Soni
Mr. Ajay Singh Dassundi
Registrar & documents
Lead manager
Gretex Corporate Services Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
K. No. 72 / 5, Village Muradpura NA Depalpur, Indore-453001
+91 8435501867
[email protected]Company website ↗Understanding ZENITHDRUG IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.